Q3 2025
PACIFIC NW MARKET REPORT
ABOUT THIS REPORT
The Berkshire Hathaway HomeServices Quarterly Market Report features the latest MLS data and local market statistics. Through year-over-year comparisons of key performance indicators and market summaries, this report delivers a comprehensive overview of residential real estate activity for the regions we service across the Pacific Northwest, including:
• Greater Portland Metro Area
• Southwest Washington (Vancouver Metro Area)
• Greater Seattle Metro Area (King, Pierce, Snohomish, & Thurston)
• Mid-Willamette Valley (Marion, Polk, Linn, & Benton)
• Central Oregon
• Eugene, Coastal, and Southern Oregon (Lane, Tillamook, & Douglas)
Learn about trends affecting sales activity and price, read decisive takeaways for each market, and empower yourself with Northwest Knowledge.
ABOUT US
Since 1942, we’ve been helping people buy and sell homes in Oregon and Washington. With 30 offices and a growing regional network of nearly 1,000 real estate professionals, we lead the Northwest in delivering exceptional service backed by datadriven market intelligence, just like you’ll find throughout this report.
For more information and assistance to help successfully navigate today’s real estate market, contact your local Berkshire Hathaway HomeServices broker. We are
All statistics are based upon MLS data for the period of July 1, 2025 – September 30, 2025.
LETTER FROM THE EDITOR
The Q3 2025 Berkshire Hathaway HomeServices Quarterly Market Report reflects a Pacific Northwest real estate market defined by balance, resilience, and opportunity. While some moderation in activity followed the usual seasonal pattern, much of the quarter’s pace reflected a market finding its equilibrium—a sign of strength rather than slowdown.
Interest rates continued to shape buyer and seller behavior across Oregon and Washington yet increased active listing numbers brought fresh possibilities. With more inventory available in several markets, home buyers enjoyed expanded choices and greater negotiating strength, especially with the insight and expertise of a Berkshire Hathaway HomeServices Forever Agent ® at their side.
For sellers, success in Q3 came down to strategic pricing and presentation. Even as market conditions evolve, one principle holds true: thoughtful strategy and professional representation consistently deliver the strongest results.
At Berkshire Hathaway HomeServices, we believe empowered decisions create lasting success. That’s why we share Northwest-specific insights each quarter -- to equip you with the knowledge and perspective to act confidently in any market. With the right strategy and trusted guidance, your next move can be your best one yet.
Melanie Weidenbach, President & CEO
Greater Portland Metro Area
• New Listings: Down 4% from Q3 2024 to 7,952
• Closed Sales: Up 2% to 6,202
• Days on Market: Up 27% (52 days vs. 41 days)
• Average Sales Price: Flat at $619,881
The Q3 2025 Greater Portland Metro market reflected steady conditions through Q3 2025, with many areas posting modest year-over-year price adjustments and a generally balanced pace of activity. Average prices remained steady across most communities, while sales volume held consistent and marketing times lengthened in a predictable return to balance. The Greater Portland Metro Area continues to reflect a market defined by long-term value, opportunity, and confidence.
DAYS ON MARKET
The average market time in the Greater Portland Metro Area climbed 27% year-over-year, rising from 41 days in Q3 2024 to 52 days this quarter. Despite the longer market times, homes across most Portlandarea submarkets continued to move within 4-6 weeks on average, especially for well-prepared listings. The shift suggests buyer deliberation, not disengagement, an expected feature of a market recalibrating toward sustainable equilibrium.
NEW LISTINGS, ACTIVE LISTINGS, & PENDING
SALES
New listings (7,952) missed the mark by 4% compared with Q3 2024; active listings were up 9% year-over-year to end this quarter at 15,453 for the Greater Portland Metro Area; and pending sales increased 6% to 6,297 from 5,946 this time last year.
AVERAGE SALES PRICE
For Q3 2025, average sales price overall remained flat throughout the region, though the cities recorded notable ups and downs. In West Linn, average sales price posted 13% gains year-over-year, rising to $936,250 this quarter. Newberg’s average sales price ($624,889) was also on the rise, up 11% compared with this time period last year. Gresham/Troutdale’s prices followed a downward year-over-year trajectory, missing the mark by 8% to end the quarter at $481,562.
Through Q3 2025, price trends across the area were mixed but steady overall. West Linn (+13%), Newberg (+11%), North Portland (+10%), and Sandy (+10%) led regional price appreciation year-overyear, each benefiting from strong demand and constrained supply. Lake Oswego, which dipped 3% lower than Q3 2024, continued to hold the region’s highest average sales price at $1,231,080.
CLOSED TRANSACTIONS
Closed transactions (6,202) were 2% higher than this time period last year, with roughly half of the markets showing gains. Sandy (+44%) and West Linn (+19%) led in transaction growth, while Newberg (-31%) and NW Washington County (-18%) saw the largest declines. Overall, the region reflected resilient buyer confidence.
GREATER PORTLAND METRO AREA
Southwest Washington
(Vancouver Metro Area)
• New listings: Flat at 2,251
• Closed Sales: Up 1% to 1,803 from Q3 2024
• Days on Market: Up 36% (53 days vs. 39)
• Average Sales Price: Down 2% to $621,969
The Southwest Washington region experienced a mixed but solid third quarter. While average sales prices dipped in several markets, closed transaction counts generally held or grew modestly, and time on market notably increased, signaling a shift toward a more balanced and selective market. The data reflects both resilience in demand and growing latitude for buyers to explore.
DAYS ON MARKET
Average days on market in Southwest Washington increased 36% from Q3 2024 to an average of 53 days this quarter. In Ridgefield, the rise was especially pronounced, with a 102% jump in average market time compared with the same period last year. Woodland stood out as an exception, with homes selling more quickly—an average of 57 days, representing a 29% decrease from Q3 2024.
AVERAGE SALES PRICE
The Vancouver Metro Area’s average sales price missed the mark by 2% year-overyear, ending Q3 2025 at $621,969. Woodland’s average sales price ($598,407) rose 16% from this time last year, one of the few markets to see notable appreciation. Longview/Kelso and Ridgefield also recorded gains of 9% and 8%, respectively. Average sales price in Washougal fell 8% year-over-year to $729,076 this quarter.
CLOSED TRANSACTIONS
Closed transactions throughout Southwest Washington edged up 1% to 1,803 this quarter from 1,792 during Q3 2024. Closed units in several cities recorded doubledigit, year-over-year percentage increases, including Woodland (25%), Battle Ground (17%), Washougal (16%), and Camas (11%).
NEW LISTINGS & ACTIVE LISTINGS & PENDING SALES
At 2,251, new listings stayed flat compared with this time last year; active listings increased 10% year-over-year to 4,253; and pending sales (1,753) showed a 5% gain from year-over-year.
SW WASHINGTON METRO AREA
Greater Seattle Metro Area
(King, Pierce, Snohomish, & Thurston)
• New Listings: Up 5% from Q3 2024
• Closed Sales: Up 1% 14,308
• Days on Market: Up 33% (36 days vs. 27))
• Average Sales Price: Down 2% to $898,408
In Q3 2025, properties in the Greater Seattle Metro Area took longer to sell than at this time last year, but activity remained healthy across all price points, from urban neighborhoods to high-end enclaves like Bellevue and Mercer Island. With a strong average sales price, balanced competition, and enduring desirability, the Seattle Metro area continues to demonstrate stability and long-term strength in the Pacific Northwest housing landscape.
DAYS ON MARKET
Average days on market in the Greater Seattle Metro Area (36) increased 33% over Q3 2024 figures, reflecting a more balanced and sustainable market. In Juanita/Woodinville, average days on market jumped 100% year-over-year to 40 days and in Bellevue, market time was up 83% to an average of 33 days. Against the trend, average days on market in Lacey/DuPont fell 3% from year-over-year, ending Q3 2025 at 28 days. At 25 days, Mercer Island’s average market time was the lowest in the region, and 47% higher year-over-year.
CLOSED TRANSACTIONS
The Greater Seattle Metro Area’s closed transactions (14,308) edged up 1% year-over-year, with 13 of 18 submarkets showing gains. Juanita/Woodinville posted the strongest increase at 46%, reflecting high-end demand and renewed inventory flow. Olympia (+22%), Federal Way/Dash Point (+14%), Gig Harbor/Key Peninsula (+12%), and North Seattle (+10%) also recorded double-digit growth in closed sales.
PENDING SALES, NEW LISTINGS, & ACTIVE LISTINGS
Pending sales (14,327) were up 3% compared with this time period last year; new listings (19,908) increased 5%; and active listings rose 18% to 33,331.
AVERAGE SALES PRICE
Reflecting a 2% dip from Q3 2024, the average sales price in Q3 2025 was $898,408 and average values across the region remained stable overall, with minor fluctuations. Mercer Island (+9%), North Seattle (+6%), and West Seattle (+4%) led in year-over-year appreciation, supported by luxury demand and tight inventory. Redmond/Carnation (-8%), Everett (-7%), and Lynnwood/Edmonds (-7%) experienced softer pricing than this time last year.
PACIFIC NW MARKET REPORT
GREATER SEATTLE METRO AREA
NUMBER OF CLOSED UNITS
Mid-Willamette Valley
(Marion, Polk, Linn, & Benton)
• New Listings: Down 2% from Q3 2024
• Closed Sales: Down 3% to 1,157
• Days on Market: Up 16% (57 days vs. 49 days)
• Average Sales price: Up 2% to $461,889
The Q3 2025 Mid-Willamette Valley market reflected a region defined by stability and balance. Home prices continued to edge higher in most cities, supported by steady demand and strategic seller positioning. Although homes took longer to sell, activity levels remained healthy, and well-priced listings continued to move efficiently.
DAYS ON MARKET
Average days on market for Q3 2025 (57) increased across the board, reflecting a 16% increase year-over-year and signaling a more patient and balanced environment. In Philomath, average market time soared 279% year-over-year to end Q3 2025 at 110 days. At 51 days, Salem/Keizer recorded the lowest days on market for the region, with an 11% rise from this time period last year. The overall increase in market time is consistent with a healthy market cadence, where buyers can explore options and sellers can price strategically.
AVERAGE SALES PRICE
In the Mid-Willamette Valley, average sales price rose 2%, from $454,828 during Q3 2024 to $461,889 this quarter. Average sales price in Independence ($461,662) increased 13% year-over-year, while average sales price in Monmouth ($435,950) fell 10% year-over-year. The region’s price performance points to durable demand and well-supported home values.
PENDING SALES, NEW LISTINGS, & ACTIVE LISTINGS
Pending sales (1,204) posted 2% year-over-year gains; new listings (1,588) fell 2%, and active listings (3,091) were up 3% when compared with this time period last year.
HOME SALES
Mid-Willamette Valley home sales dipped 3% year-over-year, ending the quarter at 1,157. On a percentage basis, closed units fell the least in Salem/Keizer, which represented the area’s largest share of transactions (755) with a 2% decline year-over-year. Albany stood out with a 19% increase, highlighting strong local momentum and affordability-driven demand.
MID-WILLAMETTE VALLEY
Central Oregon
• New Listings: Down 9% to 1,430 from Q3 2024
• Closed Sales: Up 5% to 1,242
• Days on Market: Up 29% (72 days vs. 56)
• Average Sales Price: Up 5% to $822,268
Central Oregon’s Q3 2025 market reflected healthy, sustained demand across all price points. Modest price appreciation in Bend and Redmond balanced with notable gains in Sunriver highlighted the region’s broad appeal. While homes spent longer on the market, activity levels strengthened, particularly in Bend, underscoring a resilient and well-balanced marketplace. With lifestyle appeal and strong fundamentals at its core, Central Oregon remains one of the Pacific Northwest’s most consistently stable and sought-after housing regions.
AVERAGE SALES PRICE
In Central Oregon, average sales price was up 5% year-over-year to end Q3 2025 at $822,268. Sunriver led the region with a 21% jump, driven by limited supply and the appeal of second-home and short-term rental opportunities. Redmond/ Terrebonne maintained steady growth at 4%, and Bend saw modest appreciation (+1%) yet remains the region’s highest priced market at $939,355.
CLOSED TRANSACTIONS & PENDING SALES
Central Oregon’s closed transactions (1,242) and pending sales (1,221) both posted 5% gains year-over-year, showing renewed momentum, particularly in Bend and Sunriver, up 33% and 44%, respectively from Q3 2024. Redmond/Terrebonne closed units missed the mark by 5% compared with this time last year but maintained solid volume consistent with inventory levels and steady absorption.
NEW & ACTIVE LISTINGS
New listings in Central Oregon fell 9% year-over-year to end Q3 2025 at 1,430, and active listings (3,484) were up by 7% compared with Q3 of last year.
DAYS ON MARKET
Average days on market increased throughout the region by 29% year-over-year to 72 days. Sunriver’s longer market time (+44%) corresponds to its higher price points and seasonal buyer patterns. Bend and Redmond/Terrebonne both posted moderate increases consistent with statewide trends. Despite the longer listing times, well-presented and competitively priced homes continued to attract strong interest.
CENTRAL OREGON
Eugene, Coastal, & Southern Oregon
(Lane, Tillamook, & Douglas)
• New Listings: Down 2% to 2,087 from Q3 2024
• Closed Sales: Up 4% to 1,666
• Days on Market: Up 18% to 53 days
• Average Sales Price: Up 3% to $463,915
The Q3 2025 Eugene, Coastal, and Southern Oregon region continued to reflect steadiness. Home values held firm across the area, with measured gains in several communities and an uptick in sales activity in Eugene and Sweet Home. Extended marketing times reflected a market no longer defined by urgency but where informed pricing and preparation have an impact.
DAYS ON MARKET
Time on market lengthened throughout the Eugene, Coastal, and Southern Oregon area, with Eugene maintaining the lowest average at just 40 days, which was 21% over year-over-year. The region overall reflected a normalized timeline where quality listings continue to attract consistent buyer attention.
CLOSED UNITS
Closed transactions ticked up 4% year-over-year to end Q3 2025 at 1,666. Eugene led the region with a 7% increase in closed units and Sweet Home mirrored that trend. Roseburg activity eased 8% from year-ago sales and Oceanside (-42%) and Netarts (-50%) also posted declines, consistent with tighter coastal inventory. Across the region there was steady buyer activity with pockets of growth, especially in core inland areas.
NEW LISTINGS, ACTIVE LISTINGS, AND PENDING SALES
New listings in Lane, Tillamook, and Douglas Counties missed the mark by 2% year-over-year, ending Q3 2025 at 2,087. Active listings (3,961) posted 8% gains. Pending sales were also up, rising 4% to 1,609 this quarter compared with 1,548 during Q3 2024.
AVERAGE SALES PRICE
The average sales price in Eugene, Coastal, and Southern Oregon increased 3% year-overyear to $463,915 this quarter. Eugene maintained stable pricing year-over-year, and Lebanon recorded a healthy 6% gain compared to Q3 2024, while Roseburg and Garibaldi experienced price declines, consistent with their smaller market scale and varied inventory mix.
EUGENE, COASTAL, & SOUTHERN OREGON
